sustainable finance BNP Paribas

BNP Paribas, Leadership in Sustainable Finance by Euromoney Global Awards 2021

BNP Paribas has been acknowledged as a leader in the global effort to create a truly sustainable economy by the financial publication, Euromoney. The bank continues to be strongly engaged in developing the products, services, metrics and methodologies that have been enabling sustainable change for many years now.

Longstanding commitments in sustainable finance

Group BNP Paribas’ longstanding commitments to developing finance solutions that are sustainable and supported by rigorous measurement standards, are recognised with awards for:

  1. “World’s Best Bank for ESG Data and Technology”
  2. “World’s Best Bank for ESG Data and Technology”
  3. “World’s Best Bank for Public Sector”

These awards acknowledge the Group’s ability to help its clients make their transition strategies a reality in a way that also supports their commercial success.

The Group’s contribution to responsible and sustainable growth through financing the economy and advising customers in their transformation is recognised here.” 

Jean*Laurent Bonnafé, Director & CEO, Group BNP Paribas

Leveraging Group expertise with clients for a responsible transition

As an integrated and diversified bank with local expertise and international reach, BNP Paribas prioritises a scientific, evidence-based transition to support client’s sustainability transitions, and ensure that  ESG data is embedded in the DNA of finance, forming the basis of ESG action plan of the group towards net-zero:

Progressive sector policies, innovation, and collaboration towards net-zero

For over 10 years, BNP Paribas has been prioritising the transition to a low-carbon economy via progressive sector policies, product innovation and active participation in coalitions and working groups. The bank has long been recognised as a leader in setting the standards required to achieve net-zero globally and, this year, has further enhanced its policies in response to the developing climate crisis and client needs:

The bank has consistently been tightening its funding criteria for fossil fuel related activities and no longer accepts new customers with a coal-related revenue share of more than 25% and 2020. It has also adopted cut-off dates beyond which its electricity-producing customers will no longer be able to receive financing for coal. 

In April 2021, BNP Paribas became a founding member of the Net-Zero Banking Alliance (NZBA) committing to realigning bank’s lending and investment portfolios with a  view to achieving carbon emission neutrality by 2050. This includes an interim commitment to reduce BNP Paribas’ credit exposure to oil and gas exploration-production activities by 10% by 2025. 

BNP Paribas together with other large banks developed a common methodology for measuring and aligning loan portfolios with the Paris Agreement. PACTA, covers high emitting GHG sectors including utilities, automakers, oil, gas, and power generation. The bank has also made a commitment to the Science Based Target initiative (SBTi) 

Source: BNP Paribas

Post Author: Wealth Monaco